Brief: Indian tycoon Shanghvi to partner Telenor, IDFC for payments bank

IDFC

19/08/2015 15:54

Aug 19 (Reuters) - Norway's Telenor  TEL.OL  
    * Says  to partner with  Indian tycoon Dilip Shanghvi and 
IDFC  IDFC.NS  for India payments bank 
 
SOURCE TEXT: "Dilip Shanghvi Family & Associates (DSA) alongwith 
Telenor welcomes the Reserve Bank of India's decision to grant 
"in-principle" approvals to set up payment banks. DSA is the 
main promoter in the application along with Telenor Group and 
IDFC, an infrastructure financial institution. We believe that 
payment bank facilities is a step in the direction of enabling 
last-mile connectivity to consumers by offering convenience of 
carrying banking transactions at their doorstep. We will provide 
further details at a later stage." 
 
Further company coverage:  TEL.OL  
 
 (Reporting by Devidutta Tripathy) 
 ((devidutta.tripathy@thomsonreuters.com))